This article… by Jose Nino, provides some interesting history and information on why Taiwan still outpaces China.
"By the 2000s, Taiwan was well on its way to becoming a market economy.
"Throughout the 2000s, Taiwan exercised considerable fiscal restraint. Specifically, from 2001 to 2006, Taiwan implemented several spending freezes that allowed the private sector to grow faster than the government. In this period of fiscal restraint, government spending fell as a share of total GDP.
"Unlike other countries, Taiwan has doubled down on its market reforms. Chris Edwards notes that Taiwan in 2010 cut its corporate taxes from 20 percent down to 17 percent. This current rate is among the lowest corporate tax rates of developed countries.
"On the other hand, China can learn a thing or two from the island nation."
